
Teucrium Investment Advisors, LLC (the &#34;Adviser&#34;), the investment adviser to the Teucrium 2x Long Daily XRP ETF (&#34;XXRP&#34; or the &#34;Fund&#34;), announced today that the Board of Trustees of Listed Funds

<p xmlns="http://www.w3.org/1999/xhtml">
Teucrium Investment Advisors, LLC (the "Adviser"), the investment adviser to the Teucrium 2x Long Daily XRP ETF ("XXRP" or the "Fund"), announced today that the Board of Trustees of Listed Funds Trust has approved a one-for-ten reverse share split of XXRP. The reverse share split will be effective for holders of XXRP shares after the close of trading on NYSE Arca on June 26, 2026. Shares of XXRP will begin trading on a split-adjusted basis on June 29, 2026. XXRP’s ticker symbol, "XXRP," will remain unchanged. After the close of trading on the effective date, XXRP’s CUSIP number will change from 53656G191 to 53656H595.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The reverse share split ratio is 1:10. Every ten shares held will become one share, and the total number of shares outstanding will be reduced by approximately 90%. The reverse share split will result in a proportionate increase in the Fund’s net asset value per share ("NAV"). Immediately after the reverse share split is effective, XXRP’s post-split shares will have an NAV that is approximately ten times higher than that of pre-split shares. The reverse share split does not change the value of a shareholder’s investment.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The reverse share split will affect all of XXRP’s shareholders. The reverse share split will not affect any XXRP shareholder’s percentage interest in XXRP, except to the extent that the reverse share split results in an XXRP shareholder receiving cash in the transaction. The NYSE Arca does not permit the trading of fractional shares. For XXRP’s shareholders who hold quantities of XXRP shares that are not an exact multiple of XXRP’s reverse share split ratio (a multiple of 10), the share split will result in the creation of a fractional share. XXRP’s shareholders otherwise entitled to fractional shares as a result of the reverse share split will receive cash in lieu of such fractional shares, which may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Also, as a result of the reverse share split, XXRP may have outstanding, with respect to certain of its authorized participants, aggregations of less than the number of shares required to make a creation basket (a so-called "odd-lot share"). Each of XXRP’s authorized participants will be provided with a one-time opportunity to redeem any odd-lot shares resulting from the reverse share split.

</p><p xmlns="http://www.w3.org/1999/xhtml">
There is nothing shareholders need to do. The Trust’s transfer agent will notify the Depository Trust Company ("DTC") of the reverse share split and instruct DTC to adjust each shareholder’s position accordingly. DTC is the registered owner of the Fund’s shares and maintains the record of the Fund’s owners. Shareholders with questions about how the reverse share split affects their account should contact their broker or financial advisor.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Cautionary Note Regarding Forward-Looking Statements
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Adviser’s expectations regarding the reverse share split. Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "may," "will," and "estimate," as well as similar words and phrases, signify forward-looking statements. All forward-looking statements reflect the Adviser’s present expectations regarding future events and are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in or implied by these statements, including, among others, risks and uncertainties related to the timing and availability of XXRP shares, as well as general economic, market and business conditions. Given these risks, uncertainties and other important factors, you should not place undue reliance on any forward-looking statements contained herein. The forward-looking statements contained herein represent the Adviser’s expectations and assumptions only as of the date made, and except as required by law, the Adviser undertakes no obligation to revise or update any forward-looking statements for any reason.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Teucrium Trading, LLC
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>Teucrium is a provider of exchange-traded funds (ETFs) that focuses on offering investment products primarily in the agriculture, commodity, and crypto sectors. The company also provides White-Label ETF services, allowing partners to create customized ETF products. For more information, visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.Teucrium.com&amp;esheet=54561199&amp;newsitemid=20260626240583&amp;lan=en-US&amp;anchor=www.Teucrium.com&amp;index=1&amp;md5=84fe6e77cefcf009c04d2c43bf27923c" shape="rect">www.Teucrium.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the Fund. You may obtain a prospectus and, if available, a summary prospectus by downloading the prospectus or calling 877-376-0082. Please read the prospectus or summary prospectus carefully before investing.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Important Disclosures and Risks
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>Crypto assets, such as XRP, operate without central authority or banks and are not backed by any government. Crypto assets are often referred to as a "virtual asset" or "digital asset," and operate as a decentralized, peer-to-peer financial trading platform and value storage that is used like money. A crypto asset is also not a legal tender. Investments linked to XRP can be highly volatile compared to investments in traditional securities and the Funds may experience sudden and large losses. The markets for XRP and XRP-related investments may become illiquid. These markets may fluctuate widely based on a variety of factors. An investor should be prepared to lose the full principal value of their investment suddenly and without warning. A number of factors affect the price and market for XRP such as new technology and supply and demand for XRP.

</p><p xmlns="http://www.w3.org/1999/xhtml">
XRP and XRP-related investments are relatively new investments. The performance of XRP-related investments, and therefore the performance of the Fund, may differ significantly from the performance of XRP.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The use of leverage increases the risk of loss and volatility, and the Fund may not be suitable for all investors. It is intended for sophisticated investors who understand the effects of daily compounding and are able to actively monitor and manage their investments. Investors could lose the entire value of their investment within a single trading day. Leverage may amplify both gains and losses.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund’s goal is not to achieve its stated objective over periods longer than a single day. Compounded daily rebalancing can lead to returns that differ from twice the price performance of XRP for the same period. The Fund will lose money if the price performance of XRP is flat over time, and the Fund can lose money regardless of the performance of XRP due to daily rebalancing, the volatility of the price of XRP, compounding of each day’s return, and other factors. There is no guarantee that the Fund will meet its stated objective.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. Investing in commodity interests subjects the Fund to the risks of its related industry.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund is classified as a "non-diversified" investment company under the 1940 Act and may invest a larger percentage of its assets in a single position or issuer than a diversified fund.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund’s investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund is deemed a commodity pool and is therefore subject to regulation under the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC).

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shares of the Fund are not FDIC insured, may lose value, and have no bank guarantee.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shares are not individually redeemable directly with the Fund. Brokerage commissions and Fund expenses will reduce returns.

</p><p xmlns="http://www.w3.org/1999/xhtml">
PINE Distributors LLC is the distributor for XXRP. Teucrium Investment Advisors, LLC, wholly owned by Teucrium Trading, LLC, serves as the investment adviser of the Fund. PINE Distributors LLC is not affiliated with Teucrium Trading, LLC and Teucrium Investment Advisors, LLC.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Check the background of our investment professionals on FINRA’s BrokerCheck.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Teucrium Trading, 3 Main St., Ste 215, Burlington, VT 05401, USA

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260626240583r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260626240583/en/" rel="nofollow">https://www.businesswire.com/news/home/20260626240583/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:contact@teucrium.com" shape="rect">contact@teucrium.com</a>

</p>

XXRP

Upcoming Reverse Split: Teucrium 2x Long Daily XRP ETF (XXRP)

XXRP Undertakes 1-for-10 Reverse Split; NAV Adjusts but Value Remains Consistent

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Teucrium Investment Advisors, LLC (the &amp;#34;Adviser&amp;#34;), the investment adviser to the Teucrium 2x Long Daily XRP ETF (&amp;#34;XXRP&amp;#34; or the &amp;#34;Fund&amp;#34;), announced today that the Board of Trustees of Listed Funds</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Teucrium&#039;s XXRP will perform a 1-for-10 reverse split, effective after the June 26 close and split-adjusted trading from June 29. NAV per share should rise about tenfold, with total investment value unchanged; fractional shares will be cashed out, potentially triggering tax events. The action mainly affects share count, liquidity, and creation/redemption dynamics.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Board approves 1-for-10 reverse split of XXRP; effective after June 26 close.</li><li>Trading on split-adjusted basis starts June 29; ticker XXRP remains unchanged.</li><li>Post-split NAV per share ~10x pre-split; investor value remains the same.</li><li>Fractional shares cash&#039;d out; potential tax implications and odd-lot redemptions.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>XXRP (Teucrium 2x Long Daily XRP ETF) (XXRP)</strong>: Undergoes reverse split; per-share NAV will adjust with the split.</li><li><strong>Teucrium Investment Advisors, LLC (N/A)</strong>: Adviser to XXRP; disclosed the reverse split decision.</li><li><strong>Listed Funds Trust (N/A)</strong>: Governing trust; approved the split; no direct trading symbol.</li><li><strong>PINE Distributors LLC (N/A)</strong>: Distributor for XXRP; responsible for logistics of creations/redemptions.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The action is a structural ETF corporate maneuver affecting share count and liquidity, not a fundamental earnings event, but it can influence transaction costs, liquidity, and tax considerations in the near term.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Reverse split reduces outstanding shares by ~90%, potentially affecting liquidity and spreads.</li><li>NYSE Arca and DTC will adjust positions; no investor action required.</li><li>Fractional cash-outs may create taxable events for some holders.</li><li>NAV adjustment could trigger small price read-through as the split settles.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Reverse split ratio: 1-for-10.</li><li>Effective after close of June 26, 2026.</li><li>Split-adjusted trading begins June 29, 2026.</li><li>Post-split NAV ~10x pre-split NAV.</li><li>CUSIP changes to 53656H595.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Near-term XXRP trading may display higher per-share prices with similar NAV, as liquidity and fractional handling adjust.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Teucrium Investment Advisors, LLC (the "Adviser"), the investment adviser to the Teucrium 2x Long Daily XRP ETF ("XXRP" or the "Fund"), announced today that the Board of Trustees of Listed Funds Trust has approved a one-for-ten reverse share split of XXRP. The reverse share split will be effective for holders of XXRP shares after the close of trading on NYSE Arca on June 26, 2026. Shares of XXRP will begin trading on a split-adjusted basis on June 29, 2026. XXRP’s ticker symbol, "XXRP," will remain unchanged. After the close of trading on the effective date, XXRP’s CUSIP number will change from 53656G191 to 53656H595.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The reverse share split ratio is 1:10. Every ten shares held will become one share, and the total number of shares outstanding will be reduced by approximately 90%. The reverse share split will result in a proportionate increase in the Fund’s net asset value per share ("NAV"). Immediately after the reverse share split is effective, XXRP’s post-split shares will have an NAV that is approximately ten times higher than that of pre-split shares. The reverse share split does not change the value of a shareholder’s investment.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The reverse share split will affect all of XXRP’s shareholders. The reverse share split will not affect any XXRP shareholder’s percentage interest in XXRP, except to the extent that the reverse share split results in an XXRP shareholder receiving cash in the transaction. The NYSE Arca does not permit the trading of fractional shares. For XXRP’s shareholders who hold quantities of XXRP shares that are not an exact multiple of XXRP’s reverse share split ratio (a multiple of 10), the share split will result in the creation of a fractional share. XXRP’s shareholders otherwise entitled to fractional shares as a result of the reverse share split will receive cash in lieu of such fractional shares, which may cause some shareholders to realize gains or losses, which could be a taxable event for those shareholders.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Also, as a result of the reverse share split, XXRP may have outstanding, with respect to certain of its authorized participants, aggregations of less than the number of shares required to make a creation basket (a so-called "odd-lot share"). Each of XXRP’s authorized participants will be provided with a one-time opportunity to redeem any odd-lot shares resulting from the reverse share split.

</p><p xmlns="http://www.w3.org/1999/xhtml">
There is nothing shareholders need to do. The Trust’s transfer agent will notify the Depository Trust Company ("DTC") of the reverse share split and instruct DTC to adjust each shareholder’s position accordingly. DTC is the registered owner of the Fund’s shares and maintains the record of the Fund’s owners. Shareholders with questions about how the reverse share split affects their account should contact their broker or financial advisor.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Cautionary Note Regarding Forward-Looking Statements
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Adviser’s expectations regarding the reverse share split. Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "may," "will," and "estimate," as well as similar words and phrases, signify forward-looking statements. All forward-looking statements reflect the Adviser’s present expectations regarding future events and are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in or implied by these statements, including, among others, risks and uncertainties related to the timing and availability of XXRP shares, as well as general economic, market and business conditions. Given these risks, uncertainties and other important factors, you should not place undue reliance on any forward-looking statements contained herein. The forward-looking statements contained herein represent the Adviser’s expectations and assumptions only as of the date made, and except as required by law, the Adviser undertakes no obligation to revise or update any forward-looking statements for any reason.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Teucrium Trading, LLC
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>Teucrium is a provider of exchange-traded funds (ETFs) that focuses on offering investment products primarily in the agriculture, commodity, and crypto sectors. The company also provides White-Label ETF services, allowing partners to create customized ETF products. For more information, visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.Teucrium.com&amp;esheet=54561199&amp;newsitemid=20260626240583&amp;lan=en-US&amp;anchor=www.Teucrium.com&amp;index=1&amp;md5=84fe6e77cefcf009c04d2c43bf27923c" shape="rect">www.Teucrium.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the Fund. You may obtain a prospectus and, if available, a summary prospectus by downloading the prospectus or calling 877-376-0082. Please read the prospectus or summary prospectus carefully before investing.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Important Disclosures and Risks
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>Crypto assets, such as XRP, operate without central authority or banks and are not backed by any government. Crypto assets are often referred to as a "virtual asset" or "digital asset," and operate as a decentralized, peer-to-peer financial trading platform and value storage that is used like money. A crypto asset is also not a legal tender. Investments linked to XRP can be highly volatile compared to investments in traditional securities and the Funds may experience sudden and large losses. The markets for XRP and XRP-related investments may become illiquid. These markets may fluctuate widely based on a variety of factors. An investor should be prepared to lose the full principal value of their investment suddenly and without warning. A number of factors affect the price and market for XRP such as new technology and supply and demand for XRP.

</p><p xmlns="http://www.w3.org/1999/xhtml">
XRP and XRP-related investments are relatively new investments. The performance of XRP-related investments, and therefore the performance of the Fund, may differ significantly from the performance of XRP.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The use of leverage increases the risk of loss and volatility, and the Fund may not be suitable for all investors. It is intended for sophisticated investors who understand the effects of daily compounding and are able to actively monitor and manage their investments. Investors could lose the entire value of their investment within a single trading day. Leverage may amplify both gains and losses.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund’s goal is not to achieve its stated objective over periods longer than a single day. Compounded daily rebalancing can lead to returns that differ from twice the price performance of XRP for the same period. The Fund will lose money if the price performance of XRP is flat over time, and the Fund can lose money regardless of the performance of XRP due to daily rebalancing, the volatility of the price of XRP, compounding of each day’s return, and other factors. There is no guarantee that the Fund will meet its stated objective.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. Investing in commodity interests subjects the Fund to the risks of its related industry.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund is classified as a "non-diversified" investment company under the 1940 Act and may invest a larger percentage of its assets in a single position or issuer than a diversified fund.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund’s investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Fund is deemed a commodity pool and is therefore subject to regulation under the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC).

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shares of the Fund are not FDIC insured, may lose value, and have no bank guarantee.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shares are not individually redeemable directly with the Fund. Brokerage commissions and Fund expenses will reduce returns.

</p><p xmlns="http://www.w3.org/1999/xhtml">
PINE Distributors LLC is the distributor for XXRP. Teucrium Investment Advisors, LLC, wholly owned by Teucrium Trading, LLC, serves as the investment adviser of the Fund. PINE Distributors LLC is not affiliated with Teucrium Trading, LLC and Teucrium Investment Advisors, LLC.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Check the background of our investment professionals on FINRA’s BrokerCheck.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Teucrium Trading, 3 Main St., Ste 215, Burlington, VT 05401, USA

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260626240583r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260626240583/en/" rel="nofollow">https://www.businesswire.com/news/home/20260626240583/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:contact@teucrium.com" shape="rect">contact@teucrium.com</a>

</p>

Teucrium's XXRP will perform a 1-for-10 reverse split, effective after the June 26 close and split-adjusted trading from June 29. NAV per share should rise about tenfold, with total investment value unchanged; fractional shares will be cashed out, potentially triggering tax events. The action mainly affects share count, liquidity, and creation/redemption dynamics.

Upcoming Reverse Split: Teucrium 2x Long Daily XRP ETF (XXRP)

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News